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A news report has revealed that Korean National Oil Company (KNOC) is looking to divest its stakes in Dana Petroleum. KNOC has received offers from ten investment banks for the same. The Korean firm's 30% stakes in Dana is assumed to be worth more than £410 million. The aggressive acquisition of Dana took place in 2010 but now, KNOC wants to sell it in order reduce its debt. Western Isles is operated by Dana and it started production in 2017.
